The global lightweight materials for Electric Vehicle (EV) market size was USD 7.00 Billion in 2022 and is expected to register a revenue CAGR of 27.4% during the forecast period. Rising government initiatives in electric vehicles across the globe for reducing carbon emissions, rapid adoption of lightweight materials for EV devices, rising demand for electric vehicles for rising petroleum prices, and increasing product launches by key market players are some of the major factors driving the market revenue growth.
Rapid adoption of lightweight materials for EV devices is a major factor driving revenue growth of the market. As lighter vehicles spend less energy under the same conditions, lightweight technology is crucial in the field of electric car sustainability. Transitioning from metals to non-metallic composite materials gives automotive manufacturers several possibilities for achieving marginal advantages. Carbon-Fiber-Reinforced Plastic (CFRP), polymers, and other lightweight materials are extensively used in manufacture of electric cars. Furthermore, the use of such materials can reduce the weight of electric vehicles, improving their efficiency, range, and lifetime. By using lightweight structural materials, cars can carry more complex pollution control systems, safety equipment, and integrated electrical components without adding to the total weight of vehicle. Furthermore, increasing product launches by key market players is driving market revenue growth. For instance, on 15 August 2022, Mahindra & Mahindra introduced a new brand BE in the U.K., with five all-electric cars planned over the next five years. In Oxfordshire, U.K., an electric car portfolio of five electric automobiles was also displayed.
The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
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Key companies profiled in the report include:
Toyota Kirloskar Motor., Tata Steel, Tesla., Covestro AG, BYD Company Ltd., TOYOTA MOTOR CORPORATION., Ford Motor Company., Nissan Motor Co., Ltd., Mercedes-Benz Group AG., General Motors
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Lightweight Materials for Electric Vehicle (EV) market?
What are the key product types and applications of the Lightweight Materials for Electric Vehicle (EV) industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Lightweight Materials for Electric Vehicle (EV) market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Lightweight Materials for Electric Vehicle (EV) Market by 2027?
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Market Segmentation
-
Material Type Outlook (Revenue, USD Billion; 2019-2032)
- Metals and alloys
- Aluminum
- Magnesium
- Titanium
- High-strength Steel (HSS)
- Others
- Plastics
- Polycarbonate (PC)
- Polyamide (PA)
- Polymethyl Methacrylate (PMMA)
- PET
- Others
- Composites
- Carbon fiber-reinforced polymers
- Glass fiber-reinforced polymers
- Natural fiber-reinforced polymers
- Other composites
- Elastomers
- Others
- Metals and alloys
-
Electric and Hybrid Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Extended Range Electric Vehicle (EREV)
- Fuel Cell Electric Vehicle (FCEV)
-
Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)
- Passenger vehicles
- Light commercial vehicles
- Trucks
- Buses
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type applications
Chapter 9: Current and Future Trends
Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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